!
Dd.033009 Gp.863
ลง
2
NOTHING TO BE WRITTEN IN THIS MARGIN
эуно
In shark
has been Confidence
Nothed
<The econong
bnoyart.
this
exportá
to for
the
domestic
this
what the boling depend on
rashed
frgine
has the highest. видны
nd over
the.
covespording perioa any previous year.
day you
من
of
a umentati
of chewinat
undicating that industrial output
has not been affected.
trmite mokers
Low
and terrorism. Our expectation and hope is
that more reasonable and civilised canons of
behaviour will from now on prevail and that
people, in the words of the Foreign Secretary,
"may settle down again to their normal pursuits,
which is what the vast majority of them want".
V (4)
Does the Minister see any serious falling-off
of investment in Hong Kong due to riots and
civil disturbance?
Ска
Key Clearly, events of menu that have been
occurring in Hong Kong are bound to have some effect
on the economy. Initially there was, quite
naturally, some nervousness among businessmen,
tourists, those who had money in the banks. It
does not take much to make "hot" money move, as we
Withdrawal of deposits from the
banks was at a fairly high rate in May and June
but by August had almost ceased and since then
there have been clear indications that money is
flowing back into the banks.
know in London.
X
I think that if we turn to the trade figures
over these months we get a very fair reflection of
the state of economy. Exports have continued to
rise month after month by 16% - 17% over last year's
performance, The import figures have admittedly
dipped, but this has been very largely due to the
fall in deliveries from China, particularly of
foodstuffs. Trade with China has been affected by Fransport
anfounded internal difficulties in that country and by/claims of the local Exammast's that the port was deliberate, somewhat half-hearted and unsuccessful paralysed by strikes.
attempte to restrict Chinelo trade with Hong Kong as
part
campaign to represent it as a strike-bound
port paralysed by riots.
/All the